Novo Nordisk (NYSE:NVO) said today that the FDA approved an updated label for its Saxenda liraglutide weight loss medicine. The therapy’s new label will include data showing that half of patients who received Saxenda and lost at least 5% of their weight after 56 weeks maintained their weight loss for 3 years. The update is based […]
Novo Nordisk
Report: Pharma relies on price hikes for growth
Despite growing pressure from lawmakers over the pharmaceutical industry’s pricey products, new research shows that pharma relied largely on price hikes for growth in 2016. A 120-page report from Credit Suisse demonstrated that net price growth made up 100% of net income growth for a variety of companies within the industry, including Biogen (NSDQ:BIIB), Eli Lilly […]
European advisory committee backs label update for Nordisk’s Tresiba
Shares in Novo Nordisk (NYSE:NVO) were up 2% this morning after the European Medicines Agency’s Committee for Medicinal Products for Human Use backed the company’s application for a label update to its Tresiba insulin injection. The company submitted an application in November to add data from 2 studies to the medication’s label. The final ruling is expected […]
Under pricing pressure, insulin maker joins CVS Reduced Rx savings program
Facing pressure from lawmakers about the prices of their drugs, some pharmaceutical companies are looking for ways to make their products more affordable and more accessible. Novo Nordisk (NYSE:NVO) said yesterday that it is teaming up with CVS Health‘s (NYSE:CVS) new prescription savings program, Reduced Rx, to offer discounts on its insulin. The company’s insulin will be […]
Novo Nordisk approaches Global Blood Therapeutics for possible takeover
Insulin giant Novo Nordisk (NYSE:NVO) has reportedly approached Global Blood Therapeutics (NSDQ:GBT) to discuss a possible takeover. The U.S. biotech is reviewing its options with an investment bank, according to Reuters, and there is no guarantee that it will enter formal negotiations with Novo Nordisk. Get the full story at our sister site, Drug Delivery Business News.
Teleflex CEO Smith to step down | Personnel Moves | March 1, 2017
Teleflex (NYSE:TFX) said this month that CEO Benson Smith will retire from the corner office by the end of this calendar year. Smith will continue to serve as the company’s chairman of the board. Liam Kelly, president & chief operating officer, was tapped to succeed Smith as CEO for the Wayne, Pa.-based company. “I want to […]
Report finds pharma companies limited January list price hikes
Drug-makers didn’t raise list prices for as many drugs in January compared to last year and they initiated fewer hikes of 10% or more, according to analysis by Raymond James & Associates. Although 5.5% of price increases reached the 10% level in January this year, 15% did last year and 20% did 2 years ago. […]
Nordisk tumbles on lowered outlook
Shares in Novo Nordisk (NYSE:NVO) fell -9% this morning after the pharmaceutical company missed expectations on Wall Street with its 4th quarter results and lowered its outlook for 2017. The Danish company posted profits of 8.7 billion Danish kroner, or $1.26 billion USD, on sales of 29.57 billion kroner for the 3 months ended Dec. 31, for bottom-line growth of […]
Insulin makers face class-action lawsuit over price collusion
A class-action lawsuit filed in the U.S. District Court of Massachusetts alleges that insulin makers Sanofi (NYSE:SNY), Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY) conspired to raise their list prices to get access to pharmacy benefit managers’ preferred lists, instead of competing with each other based on real market prices. In the last 5 years, the 3 companies […]
Merck becomes latest to offer insight into drug pricing practices
Last week, Merck (NYSE:MRK) released figures about its U.S. pricing practices, joining a growing list of companies that are revealing their pricing strategies amid criticism of the industry’s price hikes. The company didn’t release price increases of specific products, citing competition concerns. Merck said it would update the list annually at the beginning of each calendar year. […]
Novo Nordisk puts $145m into U.K. research center
(Reuters) – Novo Nordisk, the world’s top maker of diabetes drugs, is investing 115 million pounds ($145 million) in a new research center in Britain, undeterred by Brexit. The Danish company said on Monday it would invest the money over 10 years in the center based at the University of Oxford, which will employ 100 […]